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for two minutes. ms. castor: democrats and republicans agree that deficit reduction is important. in fact, over the past year and a half we have achieved over $2.7 trillion in debt reduction. now the republicans want to take us through a charade with this tea party budget. if enacted, the republican budget would weaken america's recovery. it would undermine what makes america great and what makes america strong. like education, the ability of students to attend college, medical research and inthe noah vation, the about of -- ability of our older neighbors to live their lives in dignity in their retirement years through medicare and long-term care. now we get a lot of advice and economists across the board, in fact, our own congressional budget office, advise that the best and fastest way to reduce the deficit to is to make sure people across america have jobs and are working. it is inexplicable that the republican budget proposes to eliminate jobs in construction, in education, scientific research, and instead heaps the burden on middle class families. experts predict the republican budge
. this is something that every family in america is asking us to focus on. number two, we need to tackle our deficit and debt fairly and responsibly. as democrats, we understand that is a responsibility that we bear today and we do it in this budget. and number three, we need to keep the promises we made as a nation to our seniors and our families and our communities. many who have struggled so much over the last few years and are counting on us to be there for them again now. mr. president, we'll be hearing a lot more about all these principles today and we're going to discuss the stark contrast between the budget that is expected to move in the house of representatives today and the plan and path forward that we have put forward here in the senate as democrats. mr. president, i will yield to senator sessions for his opening remarks, and we will continue this debate throughout the day. mr. sessions: mr. president? the presiding officer: the senator from alabama. mr. sessions: i thank the chair and would express my appreciation to senator murray for her leadership and who are courtesy and her skill
and leave a nearly $6 trillion hole in the deficit that would lead to tax increases for middle-income families. that isn't balance. that is total imbalance. at the same time, republicans propose cutting $3.3 trillion from programs for people with low and moderate incomes, including hundreds of billions of dollars for food nutrition and medicaid programs. so i want to end by asking the republicans when they come and talk about their tax proposals to name a specific that they would address. it's not in the republican budget. name one, name two, name three. otherwise, it's worse than empty. the chair: the time of the gentleman has expired. the gentleman from wisconsin. mr. ryan: with that, mr. chairman, i yield three members to the gentleman from indiana, r. rokita. mr. rokita: i thank chairman ryan in bringing this budget to the floor. i rise in high support of it. i also am very proud, one of the highest honors i have had in my short time here to serve on this committee. not because of chairman ryan only, but because of the members. by members, i mean republican and democrat mem
to work, taking a shared responsibility approach to our long-term deficits so we bring them down in a balanced smart way and they rejected the idea that we're going to move the economy forward by giving windfall tax cuts to the very wealthiest in the country and the benefits of that would trickle down and lift everybody up. they rejected that lopsided approach that balance the budgets on the backs of everybody but the folks at the very top. balance the budget on the backs of our kids' education by slashing important investments. in that category of spending we make these important investments for our country and our future, they double the cut from the sequester. so those are our investments in our kids' education. those are our investments in science and research to help power our economy. those are our investments to help modernize our infrastructure. they cut transportation by 15% when we have 15% unemployment in the construction industry. so mr. chairman, the american people rejected the kind of uncompromising lopsided approach that we see once again presented here in the hou
nation that does not -- is not riddled with debt and deficit, but also a nation that continues to be the economic leader in the world. and i believe our plan makes -- protects those investments in those key components of growth. and i hope over the coming hours that we will go through this debate and -- and i know we'll have a spirited period of a lot of amendments. this -- this budget i believe will pass and it will have to then find agreement with our colleagues in the house. and i just want to again commend both the chair and, for that matter, the ranking member. at the end of the day, we have to find common agreement to get this done. this issue that hovers all over of our other debates has become a metaphor as to whether our institutions can if you please in the 2 1*9 century. so just as the chair and rank member found agreement through a markup process where both sides were heard and amendments were offered and debated in a fair and open process, i want to both thank the chair and rank member for their commitment. they have different idead about how we get there, but at t
the deficit by 25% and have cut immigration by a third. we have a long, hard road to travel, but we are going in the right direction. >> hear, hear. >> mr. james morris. >> i am sure that the prime minister will wish to add his condolences to the family and friends of christina edkins, who was murdered on a bus to school in my constituency last morning. the government have rightly introduced minimum custodial sentences for people convicted of threatening someone with a knife, but does the prime minister agree that it is time to introduce a legal assumption that people carrying a knife intend to use it and should attract a prison sentence, so that we can redouble our efforts to rid our communities of the scourge of knives? >> hear, hear. >> i think that my honorable friend speaks for the whole house and, indeed, the whole country on the absolute revulsion at this horrific crime. i know that the whole house will sincere condolences to christina edkins's family. we take knife crime extremely seriously, which is why, as my honorable friend has said, we changed the law so that any adult who commit
independent office of budget responsibility are absolutely clear that the deficit reduction plan is not responsible for low growth." this is not what they say and will he acknowledge that today? >> returning to his earlier interesting thing about british politics right now is i've got the top team i want and he's got the top team that i want, too. long may they continue. now on the issue of the office of budget responsibility, the point of the obra is that it is independent and everyone should accept everything that it says and i do. but we should look at what it says about why growth has turned out to be lower than it forecast. it said this. we concluded from an examination of the data that the impact of external financial shocks deteriorating export markets and financial sector and eurozone faculties were the more likely explanations. that is what they said. the shadowair to chancellor, in his own press release, he said that the obr has yet to be persuaded if i have to tell him, his plan of more spending and more borrowing and more debt, the country will never he persuaded. >>
that america does have a debt and deficit problem and we need to take it very seriously. the fact is, the vast majority of our debt problems relate to the costs of health care in america. now that the debate over obama care is over, we should start thinking about how to get america's health care costs under control. as it turns out, two new works, a book and a magazine cover story provide some very useful ways to think about it. the central debate between democrats and republicans is over whether the free market works well in health care. in a new book, catastrophic care, david goldhill makes the case for the market arguing that people need to become consumers of health care so that they, not insurance companies, not the government, actually see, feel and pay the bills. that will force producers of health care, doctors and hospitals, to push down prices and drive up quality. that's what happens with groceries and television sets and computers. lasiks surgery which is not covered by health insurance, has seen a 90% drop in price and increase in quality since it was introduced in the 1990s. that
a debt and deficit problem and we need to take it very seriously. the fact is that the vast majority of our problem is related to the cost of health care in america. now the debate over obama care is over, we should start to think seriously of how to get america's health care costs under control. as it turns out a book and magazine story provide ways to think of this. the central debate between republicans and democrats is over whether the free market works well in health care. in a new book catastrophic care, they make the case arguing people need ito become consumers of health care so they, not insurance companies or the government, actually see, feel and pay the bill. that will force producers of health care, doctors and hospitals to push down prices and drive up quality. that's what happens with groceries, tv sets or computers. and basic surgery has seen a 90% drop in price and increase in quality since it was introduced in the '90s. that's what happens when consumers pay for a product. steven makes the opposite case in a recover story in "time" magazine. he painstakingly went th
's this job that has seen the deficit come down by a third since he became chancellor. and private sector jobs. he's cutting the country out of a whole we were left in by the party opposite. [cheering and applause] [inaudible] >> the prime minister welcome. the country's first local enterprise fund people who care have raised 400,000 pounds to invest in businesses and encouraging enterprise securing employment and in so many others where they lead the rest of the country -- [inaudible] i'm sure my friend is right about that the leadership of all things. he makes an important point, need to see more small businesses start, more enterprise. we need to see more to keep the private sector going. >> alex cunningham. >> rising unemployment remains an issue in my constituency. based on the reemployment and recession which claims hard working families in the most vulnerable for the obscene tax for millionaires. [cheering and applause] -- looks at the figures today he'll see there are 131,000 more people in work over the last quarter, we have seen 600,000 more people employed compared with a year ago,
differences. let's take a look at them. the gop plan would cut the deficit $4.6 trillion over ten years, all through spending cuts. the democratic plan would cut the deficit $1.8 trillion half through spending cuts and half through tax hikes. senator corker, let me start with you will senate republicans accept a tax increase if you get serious entitlement reform and cuts? >> i think senate republicans and all republicans want to see a 75 year solution to entitlements and i think republicans are joined in wanting to see tax reform so to the extent that generates revenues and how that is scored obviously that will be debated as we move ahead but i think all of us understand the real issues driving the deficit is in our o country are the entitlements. we want to see these available for generations to come. >> chris: but real quickly you you understand the price for entitlement reform in any deal would be a tax increase. would you buy that and what do you think are the prospects there willle be a deal sometime before this summer? >> well, again, i think there by the way is a chance on a deal. i
to get anything going and that's the way to deal with the deficits, of course. and there were some measures there. no national insurance payments for employees for the first few thousand pounds reducing corporation tax earlier to 20%. infrastructure spending, could it be more? businesses would always want more. but there was acknowledgement he tried while keeping the next fiscally neutral. on the whole, businesses say, not bad, could have done more. i think that will be the summation for them. the key factor, of course, is if you're not going to do more to stimulate your own growth, what happens to the eurozone becomes even more important. and i did speak to the chancellor, george osborne, just a short while ago and i asked him how worried is he about what's going on in cypress? this is what he had to say. >> it is a worrying situation in cypress and i think there's been some sole rans in international markets and elsewhere that they've got to sort these problems out. but obviously, we now need a solution. if i would have concerns if these depositors, less than a hundred thousand e
deficits with no end in sight doesn't lead to prosperity, doesn't lead to growth. it leads to financial ruin. i'm also the father of four great kids, two in college and two in high school. they know that as a family they have to plan ahead for the future. we need to create a budget and then live within our means. these are the same principles that my parents past down to me. -- passed down to me. these are the values that montana's families live by each and every day. those values are exemplified in montana's own state legislature. we're the only constitutionally -- where the only constitutionally required duletty is passing a budget. in -- duty is passing a budget. in fact, when they adjourn in a little over a montana, they will have given montana a balanced budget, just like they did last year and the year before and the year before that. it seems simple -- live within your means, spend no more than you take in, but it's not so easy here in washington. right now we are presented with two very different visions for our country, two visions that will lead to two very different outcomes
deficit by almost $6 trillion in 10 years. reduce ay budget would little under $2 trillion in 10 years. >> what other groups are offering their own budget plan docks water they likely to focus on? >> -- who will be issuing their own budget plans? budget will be similar to patty murray's budget in the senate. increases,ave tax but neither would balance the budget in 10 years. also the congressional black caucus and the congressional progressive caucus will be introducing budget. it's possible a ryan version could be introduced in the senate. >> what is likely to happen in the senate this week? >> it will be democrats making the case for the patty murray budget. convince someto democratic senators who may not support that budget. they will have to sell it to democratic senators as well as republicans. no republicans are likely to vote for the budget. they will be calling for more spending cuts, no tax increases, balancing the budget sooner. >> republicans say this to be the first time in four years they have agreed to put forward a plan. why is this your difference? are a number of diffe
through a state where wisconsin had faced a multibillion dollar budget deficit, we were having double-digit tax increases, and we saw some of the record job loss that we've seen in the past. so what did we do? we came in and took that deficit, $3.6 billion, and today it's nearly half a billion dollar surplus. we took up -- [applause] we took a state where taxes had gone up, and we not only lowered the overall tax burden for the first time in years, property taxes on a median value home had gone town in each of the last two years. [applause] and when it comes, and when it comes to jobs under my predecessor's term, wisconsin had lost 133,000 jobs, and back in 2010 a survey showed just 10% of our employers thought we were headed in the right direction. today we're gaining jobs and 93% of our employers say wisconsin is heading in the right direction. we can lead with an optimistic message. [applause] simply put, we showed in our election that when people realized the debate was between who do you want in charge, the big government special interests n this case the employee unions, or do y
reduce unemployment to nearly five -- two near 5% and three years. it would reduce the deficit by $4.4 trillion over 10 years. and it would strengthen medicare and medicaid amah and you'd be asking the wealthy to pay their fair share. -- medicare and medicaid and you would be asking the wealthy to pay their fair share. guest: the institute of policy analysis estimated that you are spending money on infrastructure. we have a to point to dollar trillion infrastructure deficit, according to the transportation -- american society of civil engineers. building roads, highways, bridges, etc. you put people to work building schools and other necessary things. you give money to the states. the states have laid off 700,000 cops, firefighters, and teachers. you give money to states for couple years to rehire them. those kinds of things add up. by doing all this, you stimulate the economy. that means the private sector generates more jobs. it comes to about 7 million altogether. host: what do you consider fair share when it comes to wealthy taxpayers? guest: we propose two different things. numb
account deficits, we're not shipping as much joe seas? >> when people think of the economic situations, they think of the u.s. but what it will do, it will cut into the u.s. deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that might be going away. at the same time, china surplus will suffer from the tracing of independence of china. >> that's strong dollar weak yuan. becky. >> just an observation. >> first, tight oil, i haven't heard of this before. i know where the marcellus shale fields are. where is tight oil? is it in the same sort of locations? >> same. traditionally, coming out of gas yields because of this huge different between gas and oil prices. which
and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he is saying. he is talking about a fiscal cliff, but you want us to accept the people here illegally and give them something they have not earned. i do not understand what republicans are doing. i am a conservative. i do not want amnesty. i do not want them here. host: you might have missed what the congressman said earlier. i will let him respond. guest: what she is saying is she does not want amnesty, and under president bush he had a strong amnesty plan and i said i would not back it. total amnesty like the one president reagan did will cause a lot of problems here and i think we need the workers. obviously,
up by the fed money printing. our deficit is as well as it makings it cheaper for poll tish shuns to borrow. former representative ron paul says why the fed is addicted to the this. you don't want to miss ron paul coming up. lauren: despite the cyprus scare, our next guest says they offer good investments. he will tell you which ones to buy. his answers certainly surprised me. lauren: time for a quick speed read of some of the day's other headlines. five stories, one minute of the first up, general motors recalling 34,000 vehicles to fix transmissions. recall affects 2013 buick lacrosse and cadillac srx crossover models. >>> u.s. crude oil production set to pass imports for the first time in 18 years. the gap between monthly oil production and imports is projected to be nearly two million barrels per day by 2014. >>> neiman marcus settles with the federal trade commission after claiming its products were made with faux fur when they contained real fur. it prohibits the retailer from violating those laws for 20 years. >>> total number of mortgage applications subpoena applied for i
policy center, the ryan budget would have managed to actually add $5.7 trillion to the deficit . a close look at the math makes it clear that the ryan budget can't recoup the revenue lost from its tax cuts without imposing large tax increases on the middle class families. the tax policy center was unwilling to speculate on where the lost revenue would come from. in addition to the economic policy institute estimates that e ryan budget would kill 750,000 jobs this year, two million next year and increased gross domestic product by 1.7 percentage points. the priorities of this budget are all wrong. it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who a
overcame a 27-point deficit. and heat streaked by the cavs. in that process, notching the 24th straight win in their belt. >>> in the first-round of the ncaa tournament number 2, 16 seed and james madison university won to advance to the second round which starts tomorrow with 16 games. they will play top seed indiana friday. good luck in that. >>> then to number 13 seeds lasalle defeated boise state. they advance to the second round to face kansas state. >>> president obama, by the way, he filled out his ncaa brackets. and he predicted that number one louisville will make it to final four. he also chose ohio state, florida and indiana to win it all. >>> nfl chicago bears could not agree on a new contract for eight time pro bowl linebacker brian urlacher so he becomes a free agent after 13 years. and ed reed left the super bowl champ baltimore ravens after 11 seasons and signed with the houston texans. >>> tiger woods says he and lindsay vonn went public about their relationship so the paparazzi couldn't make as much money from pictures they took of the couple. >> it's real simple. we're ha
meetings. he was asked about concerns that it may be scene as fiscal deficits. he denied that saying buying government bonds from the market is one of the central bank's monetary measures. >>> japanese business leaders are hoping he will take bold measures to reenergize the sluggish economy. >> translator: our business has been so tough over the past 20 years due to prolonged deflation. consumers are reluctant to spend money when prices keep falling from one day to the next. i hope the boj will work closely with the government and take bold monetary easing steps to bring deflation to an end as soon as possible. >> translator: we have high expectations for the boj under kurodo's leadership. kurodo and his deputies have abundant experience both at home and abroad. they will make a great team to guide the economy. >>> we spoke to bill devinny. >> kuroda was actually quite clear that he wants to expand asset purchases, he wants to buy longer dated bonds and also to increase the scale of asset purchases. and we think he is going to be quite aggressive in pursuing these additional measures. we ex
the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recession, a
is not in there. too much deficit reduction, 16%. slow job growth, 12%. too little deficit reduction, 10%. guys, these are more normal problems, i would say, than we've had in the past. the european financial crisis, u.s. financial crisis. sue, i would take a victory, yes, there are problems out there. >> i totally agree with you. it's the first time in a long time we haven't seen europe on a list like that. >> thank you, steve. >> absolutely. thanks, steve. >> sure. >> the markets here are a little lower, not all that much, though, given what we've had in headline risk this morning. dow jones industrial is down 38 points and s&p is off about 9. bob pisani is here to tell us what is going on. there's a lot of headline risk in the market today. >> and we're back moving on europe now. >> exactly. given 38 to the downside is not that bad. >> even europe is not reacting that much. let me show you the euro. everyone goes crazy talking about the euro. perhaps the finance minister may be resigning, we're trying to confirm that for sure. that's what we've been hearing. and on words that the governing b
, taxes, spending and deficits. and the notion that they're going to somehow come together, there's really no, no, i guess, carrot for them to go after here. >> and then they go home for two weeks. >> sure. >> and the question is are they going to hear anything from their constituents that's going to move anybody. i don't know. >> i think that they're not. and the best chance that they had to potentially hear about it was with the potential for a government shutdown, which has now been averted. so again, back to this new pace rhine of these big debates over real issues that are kind of going nowhere. and a new baseline that incidentally it's interesting because their stopgap spending bill that was passed yesterday did mark something of a breakthrough in that the appropriators in the house and the senate, the bipartisan leaderships thereof were able to come together and come up with a spending plan that keeps the government solvent and keeps it operating. and so i think that now we are going to see the appropriators get, you know, being able to get together hopefully and work out these, you
resources, and almost overnight america's energy resource picture flipped from deficit to surplus. in the past five years we've become stronger as a nation through the developed of these god-given resources. as a result we are more competitive. from low income to the high tax brackets, everyone is benefiting. the future's bright but only if we educate the half truths and begin telling the real story of america's natural gas revolution. the stories about technology, private sector innovation, investment, financial risk, thousands of new jobs, new competition, new growth, a growing and better standard of living for more americans, lower energy costs, new industries, a revitalized energy sector, more jobs, more growth, energy security and optimism. this is the story of america's natural gas revolution. i yield back. the speaker pro tempore: the entleman's time has expired. for what purpose does the gentlelady from illinois seek recognition? >> i ask unanimous consent to address the house for one minute and to revise and extend my remarks. the speaker pro tempore: without objection, t
's deficits were unpatriotic and a fraction of what these are. and 2009 cut the deficit in half he the end of the first term and that was essentially ignored in 2012 when he ran for reelection and failed to do that and mentioned one time in the newscast in one year. and 2012 told msnbc taking care of the deficit being the first order of business, this week, or last week, he said no and you're not going to get a balanced budget for the the sake of balance and sustainable for the next ten years. i think he's clearly moving the goal post, a watch dog press would be all over this, but seem to be ignoring this. you should see the e-mails, our viewers are all over it. rich, thank you. tax the rich not playing well overseas or at home for that matter. listen to this. >> in france, the approval rating of the socialist president hollande has plummeted to a mere 31%. remember, hollande came to office proposing a huge tax on the rich. here, bill maher of all people are turning against high taxes. yes, bill maher. complaining about how high his taxes are, would you know it. the man who gave a million
you need to deal with it budgets and deficits and you need to keep growth going. here is what i saw over the weekend. recession in greece which is a actually a depression if you line it up against the u.s. great depression in 1929 it looks a lot a like in terms of how much unemployment there send a how much the economy was contracted. greece is having our great depression of the late 1920s. >> wow. >>> moving on to washington now. president obama's renewed push for a grand bargain may be showing some early signs of paying off, at least with one top republican. senator bob corker of tennessee says he could envision raising tax revenue if democrats embrace big changes to medicare and social security. he is at odds with other members of his party including house speaker john boehner who is ruling out the prospect of any new taxes. >> i think, by the way, there is a chance on a deal. i know the president is saying the right things and we have an opportunity over the next four to five months. i think republicans, if they saw true entitlement reform would be glad to look at tax reform tha
on the economy and creating jobs and building stable middle class than they are on cutting the deficit. yeah, the deficit is an issue. it's not the number one issue. >> why, boehner do that? we don't have an immediate debt crisis. you would see that in the market, right? so baner er isboehner is sayin. it is against what he's been saying which is the debt is a problem. why did he do that? >> he said we need to address it over the long term. that means taking steps now. but here's the thing, he is actually opening the possibility that republicans move to more favorable ground because right now the problem is that republicans are emphasizing have been emphasizing root canal economics, only fiscal austerity rather than a more positive agenda. by conceding the point that we don't have an immediate debt crisis, then can you raise some questions. so for example, senator patty murray said let's get rid of the loopholes and deductions. now republicans say, sure, let's do that. instead of sending money to washington, let's make the child tax credit bigger. let's offer middle class tax relief. let's
who are being affected by that. you know, the best way we can deal with our debt and deficit long term is to grow the economy and that's what this budget does. it recognizes we need to invest long term. we need to cut spending and it does that. it does not do that. >> we need to invest long term. >> senator, with all due respect and i month your point of view may i just add after $650 billion tax hike already this year you raising taxes at least another trillion, i don't know how that is pro growth. regarding the sequester, i can understand making some changes to the sequester with regard to the management of the subaccounts particular in the defense department but you're not doing that. you're spending most of that money. associated press reports often years there may be a couple hundred billion dollars of spending cuts but the sequester was 1.2 trillion. you are in effect raising spending and raises taxes are you not? >> the budget closes a lot of corporate loopholes where we've been paying for people who go overseas and create jobs rather than paying to create jobs here at home. i d
-double as miami overcame a 27 point deficit and the heat squeaked by the cavs 98-95 and in the process upped their 24th straight win. >>> in the first round of the ncaa tournament, two number 16 seeds and james madison university beat liu brooklyn 68-55 to advance to the second round which starts tomorrow with 16 games. they'll play top seed indiana friday. >>> and then two number 13 seeds, will he sal debeated boise state. they advance to face kansas state. >>> president obama filled out his ncaa brackets. he predicted number one seed louisville will make it to the final fourment he also chose ohio state, florida gators and indiana, his choice to win it all, indiana. >>> indiana and the chicago bears could not agree on the new contract for brian urlacher so he becomes a free agent after 13 years and nine time pro bowl safety ed reed left the baltimore ravens after 11 seasons and signed with the houston texans. >>> golfer tiger woods says he and lindsey vaughn went public with their relationship so that paparazzi couldn't make as much money from any pictures they took of the couple. >> well,
, erasing a 27-point third quarter deficit to beat lebron's old team, cleveland cavaliers, 98-95. james had a triple-double, 28 points, 12 rebounds, 10 assists. the heat now within nine games of the nba record for consecutive wins set by the 1971-72 los angeles lakers who won 33 in a row. what are the chances, berman, that it happens? >> you can't keep falling behind by 27 points and expect to win nine games more in a row. >> they do that on purpose is my theory. but your theory is that -- >> they've gotten so used to winning any way they want, they sort of -- >> no big deal? >> -- they play casually the first three quarters and then they turn it on. i suspect it may catch up with them. >> i suspect you're right. >> thanks, zoraida. >>> we're awaiting a live news conference with president obama and palestinian president mahmoud abbas. we'll bring it to you right when it happens. this as there are no reports this morning that abbas may be ready to make a key concession. say path to a two-state exclusion on the horizon? >>> what's going on with jay leno? rumors that say pretty soon before he
that are confident. they are at odds about the budget deficit. they believe the federal government should be required to balance the budget. and when asked to describe the national debt 68 percent said it is an immediate problem. 27 percent said it's something that can be handled in the future. only 4 percent said it's not a problem. >> reveal your weight or pay a penalty. cvs announcing all workers on company healthcare must have an annual wellness review and report their weight, body fat, blood pressure and more. if they don't they will be charged $600 more a year. people not only criticizing the penalty but also wondering this about worker's privacy. in a statement cvs said personal health information would remain private. so we want to know would you reveal this information? send us your comments at foxfriendsfirst@foxnews.com. >>> 9 minutes to the top of the hour. you are looking at president obama arriving at ramallah. this as a short time ago a rocket launched into southern israel. we have a live report from ramallah on the other side of the break. 15 of the 9-11 hijackers came from saudi arab
, that's the estimate of what the possible deficits of these programs might be projected out to the infinite future. it's known as the infinite horizon projection. it doesn't tell us anything about the current fiscal status of these programs. it's just designed to create a big scary number as it does. 60 trillion-dollar, sometimes you hear the number 200 trillion-dollar. that's nonsense. real actuaries hate this sort of number because they say it's only there to basically mislead the public, and to scare people into making changes in these programs that they don't need, and that aren't necessary. >> john: indeed. i know we're short on time but i want to get to your fourth lie which i thought was one we hear all the time that you're paying way too much for your benefits or maybe you're paying too little? >> yes this is an in the misrepresentation. they are social programs. some putting more in to them will get more out of them. some won't get much out of them, what they paid in taxes. what makes the programs valuable at the middle of your career or midpoint of your career you
if you don't tax device makers? it comes from the taxes. this is going to be added on the deficit. they constructed a budget, that made it look as if, as obama promised, not going to cost the treasury a dime. well, the cbo says it will cost $1.3 trillion over a decade. so there is an increase in $1.3 trillion plus a dime in taxes. so that it ends up looking like it's not going to cost. but there will be increases in taxes everywhere. this one will be canceled. it's ridiculous. this is the one area, medical devices where the u.s. has tremendous advantage in technology over the rest of the world. why would you kill an industry that is so productive? so, the money will be cut. it will have to come out of taxes. the $1.3 trillion will become $1.6 trillion. it will climb. ultimately it will be a drag on the economy. i think ultimately after it hits and you get a train wreck and all the inefficiencies people will say in a couple of years, why don't we adopt a canadian system? cut out the middleman. and stop all the waste. simply have a simple system. government is completely in control
'll be a while, in other words. dagen: it will be a while, but the good news is the budget deficit is actually declining. suggesting a decline for the next three years, so there's a little bit of time in washington to get it right. it is not as imminent, you have not done sequestration, but it is still the fed, all about the fed. what the market will be focused on is not so much when they will raise rates because that is forever into the future, but will they be skimming back the 85 billion in purchases? i don't think there will be any sign that will happen. i think it is helping the economy. connell: you agree with the policy? >> i agree with the policy, but what is propping up the stock market is the better economy. and i cannot attribute that alter the fed. a lot of people don't think the fed is doing very effective, think it works a little, but housing is coming back certain the fed is helping that, jobs, business investment more than just the fed, that is a general improvement in the overall economy, there's no question the fed kept at it. but there is more to it than just the fed. connel
without a hint of how it would be possible. without exploding the deficit or dramatically raising taxes on the middle class. this is consistent with what the romney ryan ticket said on the campaign trail last fall. the same issue where they dodged, assembled, and ignored the perfectly reasonable question how is it possible? six months later it's back in the budget but there's still -- but there still is no answer. during the last 40 years there have been only four budgets without deficits. the last three clinton budgets and the one that george bush inherited from bill clinton. in each case taxes as a percentage of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world intersection of budget saving opportunities with potential areas of agreement. health care reform is one. b
what's called video deficit when they watch the screen passively, they can't really assemble a coherent narrative about what's happening. the way our brains develop, we need some interaction, which a tablet actually supplies because you do something and you get a response for it. it's not a substitute for a loving care giver of some sort in your life, but at least it's responding. >> i do wonder, though, about attention spans. i have two kids, 6 and 10. i'm one of these brooklyn mommies that buys hand made wooden toys from germany andy courages the kids to read books. although when i need them to be quiet, i will hand them the kindle fire. and i do notice that they're a little more -- my son is a little more agitated after playing games on that. is there anything there to worry about really? >> let's start by saying your son's a boy. i'd say based on my experience -- and those who grew occupy without these devices is the same. it's true, all things in moderation, although as part of her expiration of the story, hannah kind of experimented on her own kid and let her youngest play as much
be in a deficit in 10 years the argument however is that the senate budget creates jobs and economic growth from the middle out. now, that's according to the author. senator pattie murray. for the democrats the vote is a really big accomplishment. >> first of all, over the last two decades the average budget resolution considered 78 amendments. we have done 101. the average vote arama 70 amendments. twice as many. doing this has been a her could herculessen feet. senator murray and senator sessions. >> during the vote senators were facing more than 500 amendments which were filed but 70 were voted on. of course when you do take a 13 hour six minute vote there has to be a little bit of humor. >> it is good to say that as -- as of this time, 5:00 a.m., there has not been a day without a budget being passed in the united states senate. >> and some interesting observations from the vote. all democrats voted yeah with the exception of for up for re-election 2014. unfriendly to democrats. mark beg gich from alaska. baucus from montana. pryor from arc. hagan from north carolina. recently passed the rya
out of our deficits, we could save social security, medicare and have an economic growth boom that we haven't seen in a long time. >> california alone in one shale oil field has 100 billion barrels of oil. that is california. >> sean: how stupid, we are a stupid country. we're stupid because we allow the government-- why are you looking at me. >> i'm agreeing with you. >> sean: we're a stupid country. >> we need to get out of our own way, but this is a little bit after small detail, but a very important one for business and for america to understand. last week, one of the rules of the obama administration put out was to say that if you're going forward with any sort of project you're going to have to tell us how much carbon that will put out into the-- so it's called the nipa analysis and that's like putting a ten pound weight on everybody's ankle. >> sean: that's a hundred pound weight. >> it sounds like a minor bureaucratic detail, but it will strangle-- >> you guys will weigh in and i hope you'll pick a fight with you here. i've got to tell you, dana, they're not doing this, not ta
, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job, downright cool. and the fed insists that for reasons of economics as well as humanity, it will continue to do what has not worked. >> and i want to get your take on cyprus and europe, but let me put that aside for a moment. because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the greatest and most perilous experiment in th
on the possible deficit reduction deal. hi, john. >> it's an interesting blend of confrontation and cooperation. call it a controlled battle because you've got the u.s. senate today taking up a bill to avert a government shutdown by sustaining government funding beyond march 27th. the house has already passed the bill. there are differences between the two chambers and the two parties on what they want to do to the effects of the the bill. it smoothed out some things. made it easier for the pentagon to adjust. the senate has other departments which it's trying to help. still some disagreements there. but they expect to be worked out by the end of the week. at the same time, there's a huge gap between the two long-term budget plans that the two parties are pushing. and john boehner over the weekend said, we're done with tax increases. he was repeating that position. the house white house responded, the senior adviser, saying no deal is possible as long as john boehner is in that place. so that's where we are, sue. you've got on the one hand the two parties working together. they are like my to a
exaggerated by looking at year to date, a boon. the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a number of job cuts announced recently. so is the labor market running out of steam? listen to what "mad money's" jim cramer said earlier today. >> tens of thousands of people are going to be laid off within the next month. >> whatever little. >> and that's going to show up in the numbers, in that 330,000 employment, that may be the last good one. bernanke is not smoking dope, pot, whatever they call it now. >> well, is he right? joining us now is "the wall street journal's" chief economics correspondent john hillsenrath. good to see you. >> good to be here.
.6 trillion annual budget, he can manage a $16 trillion deficit, but somehow he can't figure out how to keep tours open for the american people? he can't even figure that out? how is he supposed to figure out all those other heady things bob is talking about the real serious decisions which he can't control that he does control which is the white house. bill: talk about the job loss. that eventually will come. bob, if you were working in the white house would you have closed off the tours? i mean is that the decision you would have reached for? >> i would have canceled toilet paper order first. the reality is, but, look, you know, when brad talks about this, there are now boats in newport news, virginia, in for retrofitting have been stopped, the work on them. there are airports that are in fact airports closed down, small ones around the country. there have been furloughs done at the border. there are a lot of things going on here that should not be looked at. bill: it will not look good if you have 35,000,000 members of congress and their family members on the south lawn -- >> i'm not argu
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